So-called “entertainment retail centers” are now the focus of real estate investment trusts (REITs) like Entertainment Properties Trust, which has invested over $600 million in eight such centers, according to its website:
“Sometimes called ‘the new mall of the new millennium,’ entertainment retail centers attract a wide range of businesses because consumers have a wide and deep thirst for fun and rejuvenating leisure experiences… now also it's dinner and shopping, dinner and ice-skating, dinner and bowling, dinner and miniature golf, or dinner and sports events on the tavern big screen with friends.”
(Read More: Why Brick-and-Mortar Stores Will Trump Online in End: CEO)
Higher end malls are seeing the biggest benefits of economic recovery and of higher end chain restaurants moving in. Mall owners want these tenants because the hope is they will drive traffic back to the retail surrounding them. Strip malls have a harder time, as patrons don’t always have to walk past another store to get to the restaurant.
SECTOR WATCH: U.S.-Based REITS
- Host Hotels & Resorts
- Simon Property Group
- Equity Residential
- Apartment Investment & Management Co
- Vornado Realty Trust
- Boston Properties
- FelCor Lodging Trust
- AvalonBay Communities
- American Capital Agency Corp
- UDR, Inc
- Camden Property Trust
Questions? Comments? RealtyCheck@cnbc.comAnd follow me on Twitter @Diana_Olick